Prathama Bank offers credit card schemes to enable farmers to have short term and medium term financial assistance. There are three cards available to farmers for agricultural purposes and allied activities. All farmers are eligible as long as they live within the operational region of the bank. There is also a credit card offered for non-agricultural activities to artisans, craftsmen, weavers and self-employed people in the rural and semi-urban areas.
The purpose of the Prathama Credit Card Schemes are to meet the short, medium and long term requirements of a farmer. The credit is given to provide adequate financial assistance to the agricultural sector.
Depending on the choice of credit card, the validity of the card can range between 3 - 5 years. The scheme is renewable after annual reviews every year.
Quantum of finance:
The loan amount or credit limit sanctioned depends on the card of your choice. The limit under the Kisan Credit Card Scheme is subject to the cropping pattern, cost of cultivation and scale of finance. The limit is Rs. 25,000 on the other cards.
Security in the form of land mortgage, charge creation of land, or third party guarantors is required.
Prathama Credit Card Schemes:
There are four rural credit card schemes offered by Prathama Bank.
Under this scheme, farmers can avail of revolving funds. This increases the liquidity available to the farmers.
Development & Maintenance of Plantation & Horticulture:
Scheme for Financing Tractors:
Scheme for Financing Other Agricultural Purposes:
Scheme for Financing Dairy Units:
Schemes for Financing Other Agriculture Allied Activities:
The credit limit on your Kisan Credit Card depends on the cropping pattern that has been adopted by the farmer or has been proposed to be adopted. The cost of cultivation and scale of finance will also play a role. These aspects will be fixed by the District Technical Committee.
Generally, all debit transactions should be credited within 1 year. This means you should repay your expenses on your credit card within 1 year.
No, the Kisan credit card is meant for agricultural and allied activities. If you are looking for financial assistance as a weaver, artisan, small craftsmen, or self-employed person, you can avail of the Prathama Swarozgar Credit Card.
Any farmer who resides within the operational area of a Prathama Bank Branch can apply for these cards.